Hi Traders.
We are currently seeing a strong bearish movement of the GBPUSD.
This usual market rules, this should not last, we are looking for it to test the strong support range set out in the blue highlighted area.
If the market breaks that support area we will invalidate our possible trade as per our rules. What we do want to see is a test of the support area, maybe another retest to form an double bottom and see a push to the upside. At first pullback, we will look for an entry.
We are currently seeing a strong bearish movement of the GBPUSD.
This usual market rules, this should not last, we are looking for it to test the strong support range set out in the blue highlighted area.
If the market breaks that support area we will invalidate our possible trade as per our rules. What we do want to see is a test of the support area, maybe another retest to form an double bottom and see a push to the upside. At first pullback, we will look for an entry.